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January 20: Six exporting countries – Abu Dhabi, Iran, Iraq, Kuwait, Qatar and Saudi Arabia – conclude ten days of meetings with Western oil companies. An agreement is reached to raise the posted price of crude by 8.49 percent to offset the loss in value of oil concessions attributable to the decline in value of the U.S. dollar.
2023–2025 world oil market chronology; W. World oil market chronology from 2003 This page was last edited on 5 August 2018, at 14:01 (UTC). Text ...
After Saudi Arabia promised further production cuts, WTI reached $51.28 on January 7 and Brent climbed as high as $54.90, the highest since before COVID-19. [36] On January 14, a weaker dollar and an expected COVID-19 relief package helped oil move slightly higher, with WTI at $53.57 and Brent at $56.42, though Europe was experiencing more lockdowns and China had a higher number of COVID-19 ...
OPEC's position in the oil market is slipping, and next year's massive supply glut will likely further loosen the cartel's grip. ... The IEA expects world oil demand growth to accelerate next year ...
Oil rose for the next two weeks, with Brent ending at $87.63 and WTI at $81.31, with loosening of restrictions in China a big reason, along with expectation of smaller interest rate increases. A lower oil rig count and the Russian cap also contributed, though U.S. crude inventories were the highest since June 2021. [2]
"We expect non-OPEC supply growth to take a ~75% share of the world's global demand growth into 2030. In other words, only ~20% of OPEC+ spare capacity may be called upon this decade," a team of ...
Chronology of world oil market events (1970–2003) World oil market chronology from 2003 (2003–present) 2003 world oil market chronology (2003) Timeline of Brazilian economic stabilization plans (1989–1994) Timeline of international trade; Timeline of largest projects in the Russian economy; Timeline of the Great Recession
The next week oil fell 7.6 percent, the most since May, WTI ending the week at $55.63 and Brent down 6 percent to $62.50, due to high world supplies and less damage from Barry than feared. [122] U.S. crude inventories went down for the sixth straight week, the most since the beginning of 2018, and decreased production caused by Barry ended, so ...